The highest in 25 years Inflation reaches 10% in the euro area

The highest in 25 years Inflation reaches 10% in the euro area The Eurostat Institute announced on Friday that the inflation index in the euro zone rose to a record rate in September, reaching the limits of 10%, at a time when the Central Bank is considering raising interest rates again.  Inflation in the euro area hit a new record in September, reaching 10% over a year, under pressure from high energy and food prices, the "Eurostat" institute announced Friday.  This percentage is higher than the expectations of Bloomberg and FactSet analysts who were expecting 9.7%.  The inflation rate in August reached 9.1% for the 19 countries that adopt the single European currency, the highest figures recorded by the European Institute of Statistics since the publication of this indicator in January 1997.  The rise in prices for consumers since November 2021 set a new record every month, while the Russian military attack on Ukraine since February 24 caused a sharp rise in energy and food prices.  In an effort to curb inflation, the European Central Bank in September raised its key interest rates by 0.75 percentage points after announcing in July a 0.5 point increase, the first in 11 years.  European Financial Institution President Christine Lagarde warned Monday that she will raise interest rates again in the coming months.  Among the components of inflation in the Eurozone, energy prices again recorded the highest annual rate of 40.8% in September after 38.6% in August.  As for industrial products and services, whose prices are also rising, the rate of increase was 5.6% and 4.3%, respectively, which indicates that the shock of rising energy prices is gradually spreading to the entire economy.  There is a wide disparity in the rates of inflation between the different countries of the euro area.  France, for example, recorded the lowest inflation of 6.2% in September thanks to measures taken by the government to impose a limit on energy prices, while the rate reached 10.9% in Germany, according to Eurostat data.  The Baltic states, which suffer the most from the consequences of the war in Ukraine, have the highest inflation rate of 24.2% in Estonia, 22.5% in Lithuania and 22.4% in Latvia.

The Eurostat Institute announced on Friday that the inflation index in the euro zone rose to a record rate in September, reaching the limits of 10%, at a time when the Central Bank is considering raising interest rates again.

Inflation in the euro area hit a new record in September, reaching 10% over a year, under pressure from high energy and food prices, the "Eurostat" institute announced Friday.

This percentage is higher than the expectations of Bloomberg and FactSet analysts who were expecting 9.7%.

The inflation rate in August reached 9.1% for the 19 countries that adopt the single European currency, the highest figures recorded by the European Institute of Statistics since the publication of this indicator in January 1997.

The rise in prices for consumers since November 2021 set a new record every month, while the Russian military attack on Ukraine since February 24 caused a sharp rise in energy and food prices.

In an effort to curb inflation, the European Central Bank in September raised its key interest rates by 0.75 percentage points after announcing in July a 0.5 point increase, the first in 11 years.

European Financial Institution President Christine Lagarde warned Monday that she will raise interest rates again in the coming months.

Among the components of inflation in the Eurozone, energy prices again recorded the highest annual rate of 40.8% in September after 38.6% in August.

As for industrial products and services, whose prices are also rising, the rate of increase was 5.6% and 4.3%, respectively, which indicates that the shock of rising energy prices is gradually spreading to the entire economy.

There is a wide disparity in the rates of inflation between the different countries of the euro area.

France, for example, recorded the lowest inflation of 6.2% in September thanks to measures taken by the government to impose a limit on energy prices, while the rate reached 10.9% in Germany, according to Eurostat data.

The Baltic states, which suffer the most from the consequences of the war in Ukraine, have the highest inflation rate of 24.2% in Estonia, 22.5% in Lithuania and 22.4% in Latvia.
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